China: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in China

In 2022, the Chinese azo- or azoxy-compounds market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Azo- Or Azoxy-Compounds Production in China

In value terms, azo- or azoxy-compounds production declined slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 13% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports from China

In 2022, the amount of diazo-, azo- or azoxy-compounds exported from China fell to X tons, which is down by -7.9% compared with the previous year. The total export volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, azo- or azoxy-compounds exports shrank markedly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 60%. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

South Korea (X tons), India (X tons) and Thailand (X tons) were the main destinations of azo- or azoxy-compounds exports from China, together comprising 45% of total exports. Turkey, Vietnam, Japan, Italy, Brazil, the United Arab Emirates, Indonesia, the United States, Poland and Pakistan lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +73.7%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Thailand ($X) appeared to be the largest markets for azo- or azoxy-compounds exported from China worldwide, with a combined 44% share of total exports. Japan, Vietnam, Turkey, Italy, Brazil, the United Arab Emirates, Indonesia, the United States, Pakistan and Poland lagged somewhat behind, together accounting for a further 34%.

Poland, with a CAGR of +68.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average azo- or azoxy-compounds export price stood at $X per ton in 2022, declining by -11.9% against the previous year. Over the period under review, the export price recorded a noticeable decrease. The growth pace was the most rapid in 2021 an increase of 35% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and India ($X per ton), while the average price for exports to South Korea ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-1.4%), while the prices for the other major destinations experienced a decline.

Azo- Or Azoxy-Compounds Imports

Imports into China

In 2022, after two years of decline, there was growth in overseas purchases of diazo-, azo- or azoxy-compounds, when their volume increased by 2.8% to X tons. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -20.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 105%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, azo- or azoxy-compounds imports fell to $X in 2022. Over the period under review, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 98% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest azo- or azoxy-compounds supplier to China, with a 57% share of total imports. Moreover, azo- or azoxy-compounds imports from India exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.2% per year) and Japan (+6.7% per year).

In value terms, the largest azo- or azoxy-compounds suppliers to China were Japan ($X), South Korea ($X) and India ($X), together comprising 89% of total imports. Indonesia, Spain and Germany lagged somewhat behind, together accounting for a further 8.1%.

Spain, with a CAGR of +33.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average azo- or azoxy-compounds import price stood at $X per ton in 2022, declining by -8.5% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, azo- or azoxy-compounds import price increased by +27.6% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by 42% against the previous year. The import price peaked at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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